11/04/2014
Singapore says will adopt OECD pact to tackle tax cheats by 2018
Singapore will implement a global agreement on swapping tax information, aimed at ending offshore tax evasion, by 2018, provided certain conditions are met
Tax
11/03/2014
I-T Dept. tracks 532 HSBC account holders
As they had stayed in India beyond 180 days for three successive years, during the relevant period. In such cases, the Department has decided to complete appropriate action within a month, “without exception.”
11/02/2014
Labuan not fully exempted from GST
Labuan, which enjoys duty free status, will not be fully exempted from implementation of the Goods and Services Tax in April next year.
10/31/2014
India cites domestic reasons for not signing global tax information pact
Finance minister Arun Jaitley has written to his German counterpart expressing India's support for the new global protocol for automatic exchange of information on tax evaders but cited domestic procedural requirements as the reason for not signing i
10/31/2014
Black money case fallout: India pulls out of multilateral information sharing agreement
Government sources said that India was unable to sign the pact as there was uncertainty about disclosures and lack of clarity
10/30/2014
Major new steps to boost international cooperation against tax evasion - OECD
A status report on committed and not committed jurisdictions will be presented to G20 leaders during their annual summit in Brisbane, Australia on November 15-16.
10/30/2014
PAKISTAN: $200b recovery from Swiss banks
A well placed source at Finance Ministry Wednesday disclosed to this scribe that a two-member delegation comprising Ex-Chief International Taxes Ashfaq Ahmad, grade 20 officer, and Secretary International Taxes Sajida Kausar, grade-18 officer visited Swit
10/29/2014
Bank-Data Sharing Accord Expands Push to Find Tax Cheats
The accord to be signed by finance ministers in Berlin today signals global determination by governments to capture tax revenue after the U.S. pursued banks such as Credit Suisse for helping Americans cheat on their taxes and German authorities bought CDs
10/29/2014
Narendra Modi Government Submits 'Black Money' List With Over 600 Names To Top Indian Court
Several activists have alleged that the income derived from India’s flourishing black money economy is used to fund election campaigns of a number of politicians.
10/28/2014
Switzerland, India Differ On Bank Account Disclosures
A Swiss official says there is a disagreement with the Indian government as to 'what exactly will have to be disclosed'
10/24/2014
Australians confess to stashing $1b in assets offshore
The Tax Office is keeping a close eye on foreign banks as part of its push to stop money being sent offshore by wealthy individuals.
10/23/2014
Swiss process on for amending tax pacts to comply global norms
This step is part of efforts to make Switzerland a "competitive and tax-compliant financial centre in line with the international standard"
10/21/2014
Hong Kong, South Africa Sign DTA
On October 16, Hong Kong and South Africa signed a comprehensive double taxation agreement the 31st such agreement that Hong Kong has concluded.
10/17/2014
Prada's honeymoon period over in China as CEO, chairperson face tax probe at home
On Sept 30 Prada announced that the company chairperson Miuccia Prada and CEO Patrizio Bertelli are both being probed by Italian authorities over tax irregularities.
10/15/2014
Top Indian tax team heads to Switzerland
India has been asking Switzerland to cooperate in these cases under obligations of the bilateral Double Taxation Avoidance Agreement
10/15/2014
Australia: Senate inquiry demands answers from low-tax companies
Companies that will be invited to explain their persistently low tax contributions, according to the report, include shopping centre company Westfield
10/15/2014
Malaysia Tax Incentives Chase Stringent Funds:
Malaysia is extending tax breaks on sukuk structures that are acceptable to Middle Eastern investors as it seeks to attract more money from the oil-rich region.
10/13/2014
INDIA: Swiss banks may delay transfer of tax evasion data
The Swiss finance ministry spokesperson recently confirmed that a meeting is expected in the coming weeks
10/12/2014
India may have to wait for automatic exchange of Swiss information
The response was to a query on whether India would also be among the countries with which Switzerland would start discussions in the initial phase.
10/09/2014
NZ’s tax system second most competitive in the world
New Zealand’s tax system second most competitive in the world